Logitech International (NASDAQ:LOGI) Upgraded by Wedbush to Outperform Rating

Wedbush upgraded shares of Logitech International (NASDAQ:LOGI) from a neutral rating to an outperform rating in a research note published on Friday, MarketBeat Ratings reports. The brokerage currently has $125.00 price objective on the technology company’s stock, up from their prior price objective of $100.00.

Other analysts also recently issued reports about the stock. Bank of America reissued an “underperform” rating and issued a $90.00 price target (down from $105.00) on shares of Logitech International in a report on Friday, February 28th. Barclays increased their price target on shares of Logitech International from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. StockNews.com downgraded shares of Logitech International from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft raised shares of Logitech International from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Finally, Citigroup raised their price objective on shares of Logitech International from $92.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $101.50.

Logitech International Trading Up 1.2 %

NASDAQ LOGI opened at $97.67 on Friday. The company has a fifty day simple moving average of $94.30 and a 200 day simple moving average of $87.96. The company has a market cap of $15.45 billion, a P/E ratio of 22.93, a P/E/G ratio of 2.61 and a beta of 0.73. Logitech International has a 1 year low of $74.72 and a 1 year high of $105.65.

Logitech International (NASDAQ:LOGI) last posted its quarterly earnings data on Tuesday, January 28th. The technology company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.07. Logitech International had a net margin of 14.38% and a return on equity of 30.53%. Equities research analysts forecast that Logitech International will post 4.21 EPS for the current fiscal year.

Logitech International announced that its board has authorized a stock repurchase plan on Wednesday, March 5th that authorizes the company to repurchase $600.00 million in shares. This repurchase authorization authorizes the technology company to reacquire up to 3.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Logitech International

In other Logitech International news, insider Samantha Harnett sold 300 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $96.60, for a total value of $28,980.00. Following the completion of the sale, the insider now owns 7,348 shares in the company, valued at approximately $709,816.80. This trade represents a 3.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Logitech International

Institutional investors have recently modified their holdings of the business. Janney Montgomery Scott LLC grew its position in shares of Logitech International by 4,876.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 167,552 shares of the technology company’s stock worth $13,798,000 after buying an additional 164,185 shares during the period. SpiderRock Advisors LLC acquired a new stake in shares of Logitech International during the 3rd quarter worth approximately $1,431,000. Assetmark Inc. grew its position in shares of Logitech International by 6,766.2% during the 3rd quarter. Assetmark Inc. now owns 49,231 shares of the technology company’s stock worth $4,418,000 after buying an additional 48,514 shares during the period. Summit Global Investments acquired a new stake in shares of Logitech International during the 3rd quarter worth approximately $1,299,000. Finally, Strengthening Families & Communities LLC boosted its stake in Logitech International by 9.2% during the 3rd quarter. Strengthening Families & Communities LLC now owns 4,498 shares of the technology company’s stock worth $404,000 after acquiring an additional 378 shares during the last quarter. Institutional investors and hedge funds own 45.76% of the company’s stock.

Logitech International Company Profile

Logitech International SA, through its subsidiaries, designs, manufactures, and markets software-enabled hardware solutions that connect people to working, creating, gaming, and streaming worldwide. The company offers products for gamers and streamers, including mice, racing wheels, headsets, keyboards, microphones, and streaming services; corded and cordless keyboards and keyboard-and-mouse combinations; pointing devices, such as wireless mice and wireless mouse products; conference room cameras, such as ConferenceCams; controllers for video conferencing room solutions; PC-based webcams, including streaming cameras and VC webcams; tablet accessories that includes keyboards for tablets; PC and VC headsets, in-ear headphones, and premium wireless earbuds; and mobile speakers and PC speakers, as well as portable wireless Bluetooth speakers.